QUESTION

We need to change our not for profit corp. to an LLC

Asked on Nov 28th, 2022 on Nonprofit and Charitable Organizations - New York
More details to this question:
If we have tried several lawyers and cannot find one to help us out.
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1 ANSWER

Labor and Employment Attorney serving Mineola, NY
4 Awards
You can't find a lawyer to convert a NPC to an LLC directly because it can't be done. By law, the managers of the NPC do not own its assets. To accomplish your objective, you need to prepare and adopt a Plan of Dissolution and Distribution of Assets, which has to be approved by the AG. To do that, you'll likely need counsel to assess your charter and assets. If you're holding assets in trust, you they have to be distributed accordingly.
Answered on Nov 29th, 2022 at 5:42 AM

Q&A on public fora are not confidential and if you need confidential guidance, you should get a one-on-one consultation.

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